Praemium’s Powerwrap acquisition pays dividends
A year down the track, Praemium’s acquisition of Powerwrap is paying dividends, with the platform provider reporting record quarterly inflow of $1.66 million.
Praemium said the September quarter inflows were 37% higher than the previous quarter and 126% higher than the same period last year, which was slightly before the Powerwrap acquisition was completed.
The company reported net inflows of $1.25 billion for the Australian platform made up of $660 million for the Praemium Separately Managed Account (SMA) scheme and $589 million for the Powerwrap scheme).
It said that funds under administration achieved a record high of $45.6 billion, an increase of 46% with Australian platform FUA of $19.9 billion comprised of $7.7 billion in the Praemium SMA Scheme and $12.2 billion in the Powerwrap scheme.
So there are another 700 cases with similar growth profiles to the lead generation induced explosion of funds that Shield…
Interesting they didn't name the worse offenders, which means it is the union funds.
In my 30+ year experience, the 'laggards' seem to consistently be ISF's in handling death benefit claims. The RSF's that…
Lead generation is either acceptable or unacceptable. Whilst I have a personal view in relation to lead generation I don't…
Yeh CALI, dodgy lead generators for Life Insurance (that is often linked to Superannuation) funnelling into dodgy direct life policies…